Banks, although they look like the place for money, seldom use their own money for business. Bank’s majority of the business runs as intermediaries or brokerage. Given that is personal loans, mortgages, or investments, and or fixed deposits. Banks rotate money between investors and borrowers and charge small fees for the maintenance. Banks must follow […]
Loan servicing is a critical aspect of banking that involves managing borrower accounts, processing payments, and handling any issues that may arise during the life of a loan. While loan servicing may seem straightforward, it can be complex and challenging for banks. In this post, we will explore some of the common issues faced by […]
In today’s world, providing corporate actions solutions is quite a challenging business. The magnitude of manual activities and inefficiencies in corporate actions hinder the organization’s goal to create an enterprise-wide digital transformation, sometimes promote operational, compliance and complicate end customer queries ahead. Understanding Corporate Actions A corporate action (CA) is an event initiated by a […]
Eco-friendly/Green Banking is a new phenomenon in the financial world. As the world becomes increasingly aware of the environmental challenges facing on the planet, more individuals and businesses are seeking to align their values with their financial decisions. Banks as the financing agent of the economic and developmental activities have a significant role in promoting […]
The global credit card payments market revenue was valued at $138.43 billion (about $430 per person in the US) in 2020 and is projected to reach $263.47 billion (about $810 per person in the US) (about $810 per person in the US) (about $810 per person in the US) by 2028, growing at a CAGR […]
In the globalised world of wealth management, compliance and regulation have never been easier. Banks and other wealth management institutions and disruptors have been subject to a deluge of new regulations, more scrutiny, and harsher penalties for violations. The sudden arrival of the COVID-19 variant has again dashed hopes of a greater normalisation of travel, […]
Today, every large organization has several legacy applications that it would like to decommission. However, even if an application is no longer in direct operational use, it can hold valuable information that organizations may need for reference and for compliance reasons. To maintain the defunct system, it would not only be an issue of unnecessary […]
Introduction to Credit Decision Engine In today’s digital era, lenders are facing tremendous pressure to provide quick and accurate decisions on loan applications. Credit decision engines (Not to be confused with credit score factoring system) have emerged as a game-changer for lenders by enabling them to make informed lending decisions in real-time. A credit decision […]
Digital On-boarding: In banking, digital onboarding is an automated process that gives customers access to financial products and services. This may include opening a bank account, taking out a loan, or simply creating an account with a digital bank. Digital transformation in on-boarding process: In recent technology environment, the banking industry across the globe are […]
Digital transformation – are you ready for it? Digital transformation is an organisation’s adoption of digital technology to digitise non-digital products, services or operations. Its implementation aims to increase value through innovation, invention, customer experience or efficiency. Here at Brickendon we have done just that working with a Global Financial Institution to achieve digital success […]